Threatening of legal actions over unpaid education loan
I had borrowed education loan of Rs 2.5 Lac from PSU Bank in 2011 for pursuing B.E in a reputed institute .I belong to a poor family and the bank issued loan for me without any security and the loan was taken in the name of my father as I was a minor at that time. I completed B.E without any campus recruitment. My father met with an accident and fractured his leg, can't able to work. My mother were also not well at that time, I'm a single child(F), so I took care of them. Ultimately,after 1 year of struggle I got a job in delhi with decent salary, but it wasn't sufficient to pay the loan. Same time I was suffering from Asthma and forced to left the job because of climatic changes. The bank is calling my family and threatening them. I went to bank to inform my situation but manager and one of the staff was making fun of my inability to pay back the loan, it was kind of mental harassment and he informed me about a one time settlement within 2 months to settle the whole amount. We don't have any way to arrange the money because of hospital expenses. I am ready to repay the loan ,once I get good income. The interest and principal combined amount is Rs 4 lac now.It will take too much time to repay for my family in present situation . I am still trying for a job. Otherwise they will file a case against me. I don't know what to do?